CPIA financial sector rating (1=low to 6=high) by country
The CPIA measures the extent to which a country’s policy and institutional framework supports sustainable growth and poverty reduction, and consequently the effective use of development assistance. The outcome of the exercise yields both an overall score and scores for sixteen criteria that compose the CPIA. These...
What the numbers show
CPIA financial sector rating (1=low to 6=high) is currently reported for 85 countries. The highest value is 4 1=low to 6=high in Armenia; the lowest is 1 1=low to 6=high in Eritrea.
The median across all reporting countries is 3 1=low to 6=high, and the mean is 2.86 1=low to 6=high.
The gap between the highest and lowest reporting country is a factor of about 4.
Over the past decade 18 countries rose and 25 fell. The largest increase was in Tajikistan (up 66.7%), and the largest decrease in Niger (down 50.0%).
CPIA financial sector rating (1=low to 6=high): full country ranking
| # | Country | Latest | Year | 10-year change | Trend |
|---|---|---|---|---|---|
| 1 | Armenia | 4 1=low to 6=high | 2013 | up 14.3% | rising |
| 1 | Fiji | 4 1=low to 6=high | 2025 | up 14.3% | rising |
| 1 | Nepal | 4 1=low to 6=high | 2025 | up 14.3% | rising |
| 1 | Rwanda | 4 1=low to 6=high | 2025 | up 14.3% | rising |
| 1 | Kosovo | 4 1=low to 6=high | 2025 | up 14.3% | rising |
| 1 | Kosovo (UNSCR 1244) | 4 1=low to 6=high | 2025 | up 14.3% | rising |
| 7 | Bosnia and Herzegovina | 3.5 1=low to 6=high | 2013 | down 12.5% | falling |
| 7 | Cote d'Ivoire | 3.5 1=low to 6=high | 2025 | up 16.7% | rising |
| 7 | Cape Verde | 3.5 1=low to 6=high | 2025 | unchanged | falling |
| 7 | Dominica | 3.5 1=low to 6=high | 2025 | unchanged | falling |
| 7 | Georgia | 3.5 1=low to 6=high | 2013 | unchanged | flat |
| 7 | Ghana | 3.5 1=low to 6=high | 2025 | up 16.7% | falling |
| 7 | Grenada | 3.5 1=low to 6=high | 2025 | unchanged | falling |
| 7 | Guyana | 3.5 1=low to 6=high | 2025 | unchanged | flat |
| 7 | Honduras | 3.5 1=low to 6=high | 2025 | unchanged | rising |
| 7 | India | 3.5 1=low to 6=high | 2013 | down 12.5% | falling |
| 7 | Kenya | 3.5 1=low to 6=high | 2025 | down 12.5% | falling |
| 7 | Kyrgyzstan | 3.5 1=low to 6=high | 2025 | up 16.7% | falling |
| 7 | Saint Lucia | 3.5 1=low to 6=high | 2025 | up 16.7% | falling |
| 7 | Malawi | 3.5 1=low to 6=high | 2025 | up 16.7% | rising |
| 7 | Pakistan | 3.5 1=low to 6=high | 2025 | unchanged | falling |
| 7 | Senegal | 3.5 1=low to 6=high | 2025 | unchanged | flat |
| 7 | Tonga | 3.5 1=low to 6=high | 2025 | up 16.7% | rising |
| 7 | Tanzania | 3.5 1=low to 6=high | 2025 | unchanged | falling |
| 7 | Uganda | 3.5 1=low to 6=high | 2025 | unchanged | flat |
| 7 | Samoa | 3.5 1=low to 6=high | 2025 | unchanged | falling |
| 7 | Zambia | 3.5 1=low to 6=high | 2025 | unchanged | rising |
| 28 | Azerbaijan | 3 1=low to 6=high | 2010 | unchanged | rising |
| 28 | Burundi | 3 1=low to 6=high | 2025 | unchanged | falling |
| 28 | Benin | 3 1=low to 6=high | 2025 | unchanged | falling |
| 28 | Burkina Faso | 3 1=low to 6=high | 2025 | unchanged | flat |
| 28 | Bolivia | 3 1=low to 6=high | 2015 | down 14.3% | falling |
| 28 | Bhutan | 3 1=low to 6=high | 2025 | unchanged | flat |
| 28 | Cameroon | 3 1=low to 6=high | 2025 | unchanged | flat |
| 28 | Djibouti | 3 1=low to 6=high | 2025 | unchanged | falling |
| 28 | Ethiopia | 3 1=low to 6=high | 2025 | unchanged | flat |
| 28 | Guinea | 3 1=low to 6=high | 2025 | up 20.0% | flat |
| 28 | Cambodia | 3 1=low to 6=high | 2025 | unchanged | rising |
| 28 | Liberia | 3 1=low to 6=high | 2025 | up 20.0% | rising |
| 28 | Sri Lanka | 3 1=low to 6=high | 2025 | down 14.3% | falling |
| 28 | Lesotho | 3 1=low to 6=high | 2025 | unchanged | falling |
| 28 | Madagascar | 3 1=low to 6=high | 2025 | up 20.0% | falling |
| 28 | Maldives | 3 1=low to 6=high | 2025 | unchanged | falling |
| 28 | Mali | 3 1=low to 6=high | 2025 | unchanged | rising |
| 28 | Nigeria | 3 1=low to 6=high | 2025 | down 14.3% | falling |
| 28 | Papua New Guinea | 3 1=low to 6=high | 2025 | down 14.3% | flat |
| 28 | Solomon Islands | 3 1=low to 6=high | 2025 | unchanged | flat |
| 28 | Togo | 3 1=low to 6=high | 2025 | up 20.0% | rising |
| 28 | Uzbekistan | 3 1=low to 6=high | 2025 | unchanged | rising |
| 28 | Saint Vincent and the Grenadines | 3 1=low to 6=high | 2025 | down 14.3% | falling |
| 28 | Vietnam | 3 1=low to 6=high | 2015 | unchanged | flat |
| 28 | Vanuatu | 3 1=low to 6=high | 2025 | unchanged | flat |
| 28 | Zimbabwe | 3 1=low to 6=high | 2025 | unchanged | rising |
| 54 | Angola | 2.5 1=low to 6=high | 2013 | unchanged | flat |
| 54 | Central African Republic | 2.5 1=low to 6=high | 2025 | unchanged | flat |
| 54 | Democratic Republic of Congo | 2.5 1=low to 6=high | 2025 | unchanged | rising |
| 54 | Congo | 2.5 1=low to 6=high | 2025 | down 16.7% | falling |
| 54 | Comoros | 2.5 1=low to 6=high | 2025 | unchanged | falling |
| 54 | Micronesia (country) | 2.5 1=low to 6=high | 2025 | unchanged | flat |
| 54 | Gambia | 2.5 1=low to 6=high | 2025 | unchanged | falling |
| 54 | Laos | 2.5 1=low to 6=high | 2025 | up 25.0% | rising |
| 54 | Moldova | 2.5 1=low to 6=high | 2019 | down 28.6% | falling |
| 54 | Mozambique | 2.5 1=low to 6=high | 2025 | down 28.6% | falling |
| 54 | Mauritania | 2.5 1=low to 6=high | 2025 | unchanged | flat |
| 54 | Sierra Leone | 2.5 1=low to 6=high | 2025 | down 16.7% | falling |
| 54 | Sao Tome and Principe | 2.5 1=low to 6=high | 2025 | unchanged | flat |
| 54 | Tajikistan | 2.5 1=low to 6=high | 2025 | up 66.7% | falling |
| 54 | East Timor | 2.5 1=low to 6=high | 2025 | unchanged | flat |
| 69 | Bangladesh | 2 1=low to 6=high | 2025 | down 20.0% | falling |
| 69 | Guinea-Bissau | 2 1=low to 6=high | 2025 | down 20.0% | falling |
| 69 | Haiti | 2 1=low to 6=high | 2025 | down 33.3% | falling |
| 69 | Kiribati | 2 1=low to 6=high | 2025 | down 20.0% | falling |
| 69 | Marshall Islands | 2 1=low to 6=high | 2025 | unchanged | falling |
| 69 | Mongolia | 2 1=low to 6=high | 2019 | unchanged | falling |
| 69 | Nicaragua | 2 1=low to 6=high | 2025 | down 33.3% | falling |
| 69 | Somalia | 2 1=low to 6=high | 2025 | unchanged | flat |
| 69 | South Sudan | 2 1=low to 6=high | 2025 | down 20.0% | falling |
| 69 | Tuvalu | 2 1=low to 6=high | 2025 | down 20.0% | falling |
| 79 | Afghanistan | 1.5 1=low to 6=high | 2025 | down 25.0% | falling |
| 79 | Myanmar | 1.5 1=low to 6=high | 2025 | down 40.0% | falling |
| 79 | Niger | 1.5 1=low to 6=high | 2025 | down 50.0% | falling |
| 79 | Sudan | 1.5 1=low to 6=high | 2025 | down 40.0% | falling |
| 79 | Chad | 1.5 1=low to 6=high | 2025 | down 40.0% | falling |
| 79 | Yemen | 1.5 1=low to 6=high | 2025 | down 25.0% | falling |
| 85 | Eritrea | 1 1=low to 6=high | 2025 | unchanged | falling |
Regions and income groups
Aggregates are excluded from the country ranking above so that a region can never outrank a country.
- High income 3.5 1=low to 6=high
- Post-demographic dividend 3.5 1=low to 6=high
- Late-demographic dividend 3.42 1=low to 6=high
- Caribbean Small States 3.36 1=low to 6=high
- Europe & Central Asia (excluding high income) 3.25 1=low to 6=high
- Europe & Central Asia 3.25 1=low to 6=high
- Europe & Central Asia (IDA & IBRD countries) 3.25 1=low to 6=high
- IDA blend 3.24 1=low to 6=high
- Upper middle income 3.19 1=low to 6=high
- Latin America & Caribbean 3.1 1=low to 6=high
- Latin America & the Caribbean (IDA & IBRD countries) 3.1 1=low to 6=high
- Latin America & Caribbean (excluding high income) 3.06 1=low to 6=high
- Small states 3.02 1=low to 6=high
- Middle income 3 1=low to 6=high
- South Asia 3 1=low to 6=high
- South Asia (IDA & IBRD) 3 1=low to 6=high
- Other small states 2.94 1=low to 6=high
- Lower middle income 2.92 1=low to 6=high
- Early-demographic dividend 2.88 1=low to 6=high
- Pacific island small states 2.83 1=low to 6=high
- Africa Eastern and Southern 2.83 1=low to 6=high
- IDA & IBRD total 2.81 1=low to 6=high
- IDA total 2.81 1=low to 6=high
- World 2.81 1=low to 6=high
- Low & middle income 2.81 1=low to 6=high
- Sub-Saharan Africa (excluding high income) 2.8 1=low to 6=high
- Sub-Saharan Africa 2.8 1=low to 6=high
- Sub-Saharan Africa (IDA & IBRD countries) 2.8 1=low to 6=high
- Africa Western and Central 2.77 1=low to 6=high
- East Asia & Pacific (excluding high income) 2.71 1=low to 6=high
- East Asia & Pacific 2.71 1=low to 6=high
- East Asia & Pacific (IDA & IBRD countries) 2.71 1=low to 6=high
- Heavily indebted poor countries (HIPC) 2.71 1=low to 6=high
- IDA only 2.68 1=low to 6=high
- Pre-demographic dividend 2.65 1=low to 6=high
- Least developed countries 2.58 1=low to 6=high
- Low income 2.38 1=low to 6=high
- IBRD only 2.25 1=low to 6=high
- Middle East, North Africa, Afghanistan & Pakistan 2.1 1=low to 6=high
- Middle East, North Africa, Afghanistan & Pakistan (excluding high income) 2.1 1=low to 6=high
About this data
The CPIA measures the extent to which a country’s policy and institutional framework supports sustainable growth and poverty reduction, and consequently the effective use of development assistance. The outcome of the exercise yields both an overall score and scores for sixteen criteria that compose the CPIA. These criteria include: A. Economic Management (1. Monetary and Exchange Rate Policies; 2. Fiscal Policy; 3. Debt Policy and Management), B. Structural Policies (4. Trade; 5. Financial Sector; 6. Business Regulatory Environment), C. Policies for Social Inclusion/Equity (7. Gender equality; 8. Equity of public resource use; 9. Building human resources; 10. Social protection and labor; 11. Policies and institutions for environmental sustainability), D. Public Sector Management and Institutions (12. Property rights and rule-based governance; 13. Quality of budgetary and financial management; 14. Efficiency of revenue mobilization; 15. Quality of public administration; 16. Transparency, accountability, and corruption in the public sector). The financial sector criterion assesses the policies and regulations that affect financial sector development. Three dimensions are covered: (a) financial stability; (b) the sector’s efficiency, depth, and resource mobilization strength; and (c) access to financial services.